Avon Products says that it will eliminate about 1,200 positions by 2013 as part of its restructuring efforts.
The revamp will affect about 2,300 positions worldwide and result in a second-quarter charge of approximately 19 cents per share including a one-time restructuring tax charge and costs from a previous restructuring.
New York-based Avon Products says the restructuring program, which was announced in February, will help trim costs and make it a more efficient company. It anticipates about $200 million in total annualized saving by 2012 to 2013.
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